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:-) NQ Minerals Announces 44% Production Rate Increase from Hellyer Gold Mine
London, United Kingdom – July 2, 2020 – NQ Minerals Plc (AQSE:NQMI, OTCQB:NQMLF, OTCQB:NQMIY) (“NQ” or the “Company”) announces today that plant production at its flagship Hellyer Gold Mine (“Hellyer”) in Tasmania, Australia, has now been successfully increased by 44% to over 1.3 million tonnes per annum (1.2Mtpa at 92% plant availability), compared to 2019’s full year plant production numbers.
The new production rate of 150 tonnes per hour (1.314Mtpa) is now being achieved after a June plant upgrade and circuit optimisation exercise. This new rate compares to 2019 Hellyer Full Year plant throughput totalling 835,877 tonnes (average 103 tph at 92% plant availability).
Process optimisation works are now underway to ensure that the plant achieves maximum recoveries and concentrate specifications at these new higher production rates.
Engineering assessments will continue to plan for further production rate increases later in the year, should higher production rates be required.
David Lenigas, Chairman of NQ Minerals Plc, said, “This Hellyer plant upgrade exercise has been successfully brought in some 6 months ahead of expectation. The increase in saleable mine product will have a very positive affect on the Company’s top and bottom line revenues going forward, and will assist NQ greatly with its ability to service ongoing debt obligations and strongly position the mine for increased profitability as commodity prices improve with the world emerging from the COVID-19 pandemic.”
Hi all. Got back in here today.I said I hoped to get back into NQ Minerals the other day. David Lenigas, NQ’s Chairman, said: “Beaconsfield is an exceptional high-grade gold asset and will provide a solid platform to bring the company’s second mine in Australia into production.
“The company is now focused on bringing the Beaconsfield gold processing plant back into operational status as soon as practicable. The mine has a long and rich history in northern Tasmania, and we understand the importance of this heritage. We are looking forward to bringing jobs and economic activity back to Beaconsfield.” https://im-mining.com/2020/06/29/nq-minerals-acquires-beaconsfield-mine-plots-new-underground-decline/
Any info on who the constant and large seller is in the market?? And what position size is being cleared out. Is there an underwriter holding leftover placing or something?
I think I have already said that I am not a great fan of DL but he can get things moving and in this case of NQ he was invited to join the BOD by the major shareholders. Also of interest is the recent Broker note that looks for a move to a SP of 21p. It is a gamble as are all similar stocks but I think the needle is pointing more positively now.
Greenfish89 I like to thank you.I got out Monday ahead of the big drop as listened to you and I needed cash to invest in another company. I don't know why such a large drop here unless they are finding it hard to re finance debt etc?. Although they do have a working mine & about to buy a gold mine.So a little confused. Will keep an eye on NQ and maybe in future get back in here.
I'd have looked into management of the company a bit more just look into what's happened to companies he has been involved with. It looks really good almost too good to be true.
As I posted on 26 Feb it should be worth tucking a few of these away. DL is making NQM his baby and there is plenty of news/updates on their website. Once they sort the financing out they will look to have a main listing. The current mc of about £32m will be left well behind.
11-5-2020. NQ Minerals' David Lenigas outlines new 483,000 ounce gold resource at Beaconsfield. https://www.proactiveinvestors.com/companies/news/919248/nq-minerals--david-lenigas-outlines-new-483000-ounce-gold-resource-at-beaconsfield-919248.html
TODAY. 7-5-2020. At over 10g/t, the resource is one of the highest-grade deposits globally and with a significant upgrade in tonnage NQMI are now demonstrating that the resource also has expansion potential. Highlights from the drill programme which led to the resource upgrade included 7m at 21.7g/t Au from 1,220m and 11m at 15g/t Au from 1,235m. The successful resource upgrade adds momentum to NQMI’s efforts to expedite a restart of production. https://www.proactiveinvestors.com/companies/news/919076/morning-miner---nq-minerals-919076.html
I worked out that your 35k was a buy yesterday. Anyway. Hi ElmerJ.
My 35k buy this morning is marked as a sell. Oh well, suppose someone had to sell for me to buy :-)
Barnes Hill nickel project.
NQ Minerals significantly upgrades Barnes Hill nickel resource, new findings boost pre-feasibility
It boosts plans for the nickel project, which is adjacent to NQ's Beaconsfield gold project https://www.proactiveinvestors.co.uk/companies/news/917880/nq-minerals-plc-s-david-lenigas-discusses-significant-boost-to-barnes-hill-nickel-resource-917880.html
https://www.proactiveinvestors.co.uk/companies/news/917819/nq-minerals-significantly-upgrades-barnes-hill-nickel-resource-new-findings-boost-pre-feasibility-917819.html
6-4-2020. NQ says Hellyer mine hits record quarterly production. https://www.proactiveinvestors.com/companies/news/916659/nq-says-hellyer-mine-hits-record-quarterly-production-designated-essential-by-tasmanian-government-916659.html
7-4-2020. Nq Minerals 'in a good position' and continuing to ramp up production at Hellyer . https://www.proactiveinvestors.com/companies/news/916805/nq-minerals--in-a-good-position--and-continuing-to-ramp-up-production-at-hellyer-916805.html
BEACONSFIELD GOLD MINE One of the Richest Gold Mines in Australia1.8 million ounces historic production. https://www.nqminerals.com/wp-content/uploads/2020/03/NQ-Beaconsfield-Presentation-March-2020.pdf
NQ Minerals : Beaconsfield Gold Mine Update and New Corporate Presentation. https://www.marketscreener.com/news/NQ-Minerals-Beaconsfield-Gold-Mine-Update-and-New-Corporate-Presentation--30212891/
24-2-2020. NQ has signed a staged acquisition agreement totalling A$2million to purchase a 100% interest in the historic high-grade Beaconsfield Gold Mine in Tasmania.
Beaconsfield is historically one of the richest gold mines in Tasmania. Past gold production totalled nearly 2 million ounces from 1887 to 2012 at an average of nearly 15 grams per tonne ("g/t").The assets to be purchased include the 350,000 tonnes per annum ("tpa") processing plant, tailings dams, associated infrastructure, property rights, mining leases, and related mining permits.
An extensive 593 hectare mining lease covering the famous Tasmanian Reef and infrastructure.
https://www.prnewswire.com/news-releases/nq-minerals-signs-deal-to-buy-the-rich-beaconsfield-gold-mine-in-tasmania-301009566.html
3rd March 2020. PERTH (miningweekly.com) – Australia-focused metals miner NQ Minerals has secured a $60-million debt facility with a European natural resources bank and financial solutions provider Traxys Group as part of its refinancing efforts for the original debt raised to fund the Hellyer base and precious metals project, in Tasmania. http://www.miningweekly.com/article/nq-minerals-refinances-hellyer-debt-2020-03-03
I agree with you ismalia. This company ticks all my investing boxes. 1st Tick/ The Company has a mine in production & is making a profit. 2nd Tick/Hellyer mine Operation is in Tasmania, Australia. 3rdTick/mine commenced production of lead, zinc and precious metal concentrates.4th Tick/ Hellyer mine has now achieved commercial production, exceeding originally anticipated metallurgical performance and plans are in place for further expansion. 5thTick/ Exploration Licence surrounding NQ’s Hellyer Mine approved.This is a very positive development for the Company as the Mt Block increases NQ’s license holding three-fold around the Hellyer Mine. This tenement is under explored and has the potential to host new mineralisation close to NQ’s Hellyer processing plant.”. 6thTick/Hellyer in operation Mill would apparently cost around Oz $500 million to build new. 7thTick/ NQ is pleased at the progress being made by TEM towards establishing the feasibility of a long life and low-cost quartile nickel/cobalt/gold/silver integrated downstream mining and processing operation.NQ has agreeda further strategic investment,under its existing agreements to acquire 100% of Tasmania Energy Metals Pty Ltd. 8th Tick/ “As from today "21-2-2020".NQ and its engineering consultant teams commence an extensive due diligence programme on Beaconsfield as part of the acquisition agreement. NQ will be working with its consultants and relevant Government Departments in Tasmania to assess and ascertain what is required to re-open Beaconsfield as soon as possible.“Acquiring an established gold processing plant for a fraction of the cost to build and permit a new one, not to mention the typical lead time associated with permitting a new facility in Tasmania, is an exciting opportunity which provides our shareholders with exposure to the potential near term re-opening of a high-grade gold operation in Tasmania. Recent notable successes in re-assessing new potential around historic high-grade gold mining centres has seen significant value add for investors at projects like Fosterville in Victoria and Bellevue in Western Australia. In this regard, we believe that Beaconsfield offers a genuine opportunity for the Company to develop a high-quality gold asset. 9thTick/ NQ Minerals is also developing two exploration projects known as Ukalunda and Square Post, in North Queensland. These projects are both located in prospective mining districts that form part of the well-known Charters Towers Gold Province, where more than 20 million ounces of gold has been mined. 10thTick/ NQ has Off take Agreements. IMO only of course & do your own research.
Could be wise to tuck a few of these away MS. I appreciate DL is not everyone's choice but he gets things going and knows his way around. On this occasion of course he was invited to join NQ. I feel the company will do very well and I expect to see the sp well ahead once it joins the main market.
That was my 586 shares.It's a start. "It was of course a buy". Will be adding in future.
Gold mine acquisition looks interesting.
Having taken a long hard look at NQ I feel that there is huge potential. Not a great fan of DL but I do feel that the asset and the potential is greater than the man. Once there is an AIM or a main listing I think the sp will fly. So For tha reason I will be buying in next weet week . GLA
I'm new to this site, stumbled upon it. I had been told by a NEX that there was no way you can tell buy from sell trades, they just post latest trades. So when I saw this site appears to do just that I was interested. However, looking at the last few days of trading in NQ Minerals I was alarmed at the number of sell trades and became suspicious. I then tracked back to Jan 8th when I bought and, with 100% confidence (because of the time, unique price and shares bought) I can see that my BUY was reported as a SELL!!!! SO DO NOT BELIEVE EVERYTHING YOU SEE ON THIS SITE. Should I inform the FCA? as this misinformation could affect peoples decision making?
NQ seem to be heralding high capacity leading to high Profit numbers - but a look at the accounts shows this is operating profit before most of the costs.
chairman has gone
corporate advisers have gone
making losses whilst fan-fare claiming profits -
and raising more debt to pay for it.
will have to wait for the next set of audited accounts before buying more of this as i don't know what to think - the last audit report was verging on not getting signed off so will see what they say this year.